SUPPLY CHAIN INVENTORY MODEL FOR DETERIORATING PRODUCTS WITH MAXIMUM LIFETIME UNDER TRADE-CREDIT FINANCINGH.M. SRIVASTAVA, JUI-JUNG LIAO, KUO-NAN HUANG, KUN-JEN CHUNG, SHY-DER LIN, SHIH-FANG LEE (pp. 53-71)
Abstract.In this article, we analyze an economic order quantity (EOQ) model for deteriorating products, in which we assume that the deteriorating items not only deteriorate continuously, but also have their maximum lifetime and we determine the optimal solution of the total annual relevant cost in terms of some lemmas and investigate the obtained properties of the optimal solution, which leads to solution procedures that are simple and easy to understand.
Keywords: deteriorating products, maximum lifetime, trade-credit financing, permissible delay in payments, economic order quantity (EOQ), inventory, supply chain management, mathematical analytic solution procedures.